Is Monzo or Cater Allen better for your small business?
Below we look at both Monzo and Cater Allen reviews on Trustpilot along with their App reviews from Apple and Google.
We then look at typical fees, business savings rates, foreign currency options and a whole bunch of other account features to help you make up your mind.
Monzo vs Cater Allen Trustpilot Reviews
| Monzo | Cater Allen | |
| Trustpilot Review Score (out of 5) | 3.9 | 1.9 |
| Percent 5-Star Reviews | 77% | 7% |
| Percent 1- Star Reviews | 14% | 80% |
| Total Number of Reviews | 30,333 | 136 |
https://www.trustpilot.com/review/www.monzo.com
https://www.trustpilot.com/review/www.caterallen.co.uk
Monzo vs Cater Allen App Reviews
| Monzo | Cater Allen | |
| iPhone Review Score (out of 5) | 4.9 | No Rating |
| Number of iPhone Reviews | 189,000 | No Reviews |
| Android Review Score (out of 5) | 4.7 | No Rating |
| Number of Android Reviews | 125,000 | No Reviews |
https://apps.apple.com/gb/app/monzo-bank-mobile-banking/id1052238659
https://www.apple.com/uk/app-store/
Monzo vs Cater Allen Account Fees & Charges
| Monzo | Cater Allen | |
| Free Business Bank Account | Yes | No |
| Free Business Account Term Length | No Limit | NA |
| Cheapest Monthly Account Fee | No | Free |
| Most Expensive Monthly Account Fee | £5 | £25 |
| Electronic Payment Cost (in/out) | Free | £2 |
| Cash Payments Cost (in/out) | £1 | Free |
| Cheques (in/out) | Unknown | £6 |
| CHAPS Payments Cost | £20 | £25 |
| SEPA Payments Cost | No | £2 |
Monzo vs Cater Allen Business Savings Rates
| Monzo | Cater Allen | |
| Types of Business Savings Accounts | Instant Access Savings Pot | Fixed Term, Notice Account |
| Lowest Savings Rate (AER) | 1.60% | 3.00% |
| Maximum Savings Rate (AER) | 1.60% | 4.70% |
| Minimum Savings Amount | No | No |
| Interest Paid On Foreign Currencies | Yes | Yes |
Monzo vs Cater Allen Account Opening Times
| Monzo | Cater Allen | |
| Can You Apply Online? | Yes | Yes |
| How Long Does Opening An Account Typically Take? | 1 to 8 Working days | 7 days |
| Do They Check Your Credit? | Yes | Yes |
| Current Account Switch Service | Yes | No |
Monzo vs Cater Allen Features & Account Types
| Monzo | Cater Allen | |
| Business Current Account | Yes | Yes |
| Business Savings Account | Yes | Yes |
| Business Credit Card | Yes | No |
| Business Overdraft | Yes | No |
| Accounts For Startups | Yes | Yes |
| Accounts For Charities | No | Yes |
| Accounts For Sole Traders | Yes | Yes |
| Joint Business Accounts Available | Yes | Yes |
| Card Type | Mastercard | Mastercard |
| Online Banking | Yes | Yes |
| Mobile Banking | Yes | Yes |
| In Person/Branch Banking | No | No |
| Branch Locations | None, online only | None, online and phone only |
Monzo vs Cater Allen Customer Support Options
| Monzo | Cater Allen | |
| Phone Support Available | Yes | Yes |
| Email Support Available | Yes | Yes |
| App Based Support | Yes | No |
| Web Based Support | Yes | Yes |
| In person Customer Support | No | No |
Monzo vs Cater Allen Foreign Currency Accounts
| Monzo | Cater Allen | |
| US Dollar (USD) Bank Accounts | Yes | Yes |
| Euro (EUR) Bank Accounts | Yes | Yes |
| Other Currencies Available: |
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Other Business Services From Monzo and Cater Allen
| Monzo | Cater Allen | |
| Business Loans | Yes | No |
| Commercial Mortgages | Yes | No |
| Invoice Financing | Yes | No |
| International Payments | Yes | Yes |
| Merchant Payment Services | Yes | No |
| Card Machines | Yes | No |
| Free Accounting Software | Yes | No |
Monzo vs Cater Allen Banking Basics
| Monzo | Cater Allen | |
| Bank Type | Challenger | High Street |
| FSCS Protection | Yes, up to £85,000 | Yes, up to £85,000 |
| FCA Number | 730427 | 178737 |
| Website | Monzo Website | Cater Allen Website |
Common Comparison Questions
Does Monzo or Cater Allen have better customer reviews?
Monzo scores 3.9 out of 5 based 30,333 Trustpilot reviews. Of these reviews 77% are 5-star and 14% are 1-star.
Whereas, Cater Allen scores 1.9 out of 5 based 136 Trustpilot reviews. Of which 7% are 5-star and 80% are 1-star.
Does Monzo or Cater Allen have a better App?
Monzo’s iPhone App is rated 4.9 out of 5 based on 189,000 reviews. And it’s Android App is rated 4.7 out of 5 based on 125,000 reviews.
In comparison, Cater Allen’s iPhone App is rated No Rating out of 5 based on No Reviews reviews. And it’s Android App is rated No Rating out of 5 based on No Reviews reviews.
Does Monzo or Cater Allen have better business savings rates?
Monzo offers the following types of business savings accounts: Instant Access Savings Pot with interest rates ranging from 1.60% to 1.60%. (AER)
In contrast, Cater Allen offers Fixed Term, Notice Account accounts with interest rates ranging from 3.00% to 4.70% (AER).
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For other business bank accounts see our guide here.